BISPoint Technologies stock shot up by 65 percent Tuesday in unusually heavy trading, but executives at the former Barrister Information Systems Corp. said they couldn't explain the sudden interest in the Buffalo computer services and software company's shares.
BISPoint's stock rose 1 1/1 6 to 1 3/4 and traded as high as 2 1/2 . A total of 515,800 shares changed hands, which was more than 21 times the company's average daily volume.
Mark C. Donadio, BISPoint's vice president, said the company expects to announce in the next few days that it has signed a service contract with a big national computer equipment distributor. Other BISPoint executives could not be reached to elaborate on the contract.
In addition, the company said it expects to report a loss during its third fiscal quarter, which ended on Dec. 31. BISPoint expects to release its third-quarter results in mid-February.